Brazil's passenger car imports soared by 46.4% in Q1 2024, with a significant portion (40%) coming from China and consisting mainly of electric vehicles (EVs) and hybrids. The Brazilian government is increasing import taxes on EVs and hybrid vehicles this year. Chinese automaker BYD is the top-selling electric car brand in Brazil, outpacing competitors like Great Wall Motors and Toyota during Q1 2024. Imports of new passenger cars, especially those originating from China, have temporarily surged... Read this story
